Oil drops to $100 then in one day, one hurricane warning then you'll see a short squeeze back up to $140 in no time.
$100, are you on crack son? You think Goldman BushPaulson Sachs is going to let the airlines off the hook and let the sheep get in cheap for another ride to $140? If oil trades par in the next few weeks you ain't going to want to be long it because it's headed to $50.
why do you feel the need to constantly make predictions when you have time over time proven to us that your predictions have no edge?
Indicators (yes indicators ) on daily chart continue confirming weakening p/a, mastership is in finding the right time to get in without having to sustain too much heat, not many can do so. No point saying "Hey, party is over, so over that this bad boy is going DOWN..." We all know it's going to retrace as it's the way of the world what goes up must come down, WHEN is a more appropriate question, so please tell us WHEN this bad boy is going to go down? TY! BTW I partially agree with Cheese, not so much I agree based on what I dug out myself, but rather what I've been told by an oil company employee, there is a definite lack of refineries, cost of building a refinery is huge and it also takes a fair bit of time I expect, he mentioned that demand increased after BP Texas went out. I don't really get involved in all those fundamentals , just something I've been made aware of & see the logic there.
No matter if and how much oil goes down or up we need not lose focus on alternative sources. Electric and hydrogen power for autos. Some more solar power where we can. I really hope they high prices have flipped the switch on a major undertaking on seeking alternative sources. I for one and looking at it now.
My family has been in oil since the 1910's. My grandfather told me this was going to happen back in the 1950's. He predicted the 1990's. So, he was off by ten years. He said that would be the time to jump on the oil sands in Colorado. The family ford was filled with a 5 dollar bill. I'm sure his opinion was not unique in the oil industry. My brother works at fixing up old out of date refinery's. Trying to keep them going. The are always having outages and running below capacity. Not enough new ones being built. Seems simple to me. Too little supply for too much demand. How high does the price go before we figure there must be another source of energy. Oil aint cheap anymore. Quit ur bitchin and do something!
Thats your abuse. Now its my turn. You are an ignorant piece-of-shit agitator against the interests of ET members who quite simply are speculators; they want to trade, or they are trading, in markets to make profits. Speculation trading adds massive liquidity to all markets and therefore plays an important role.
You are correct in some ways. Last year was quiet. Who knows what this year will bring. If a hurricane hits Florida only will it shut down rigs?